Eco-(D)evastation
Eco-(D)evastation: “What happens when most people run out of money or max out their credit? They stop spending, right? When most people reach that sad threshold they have no alternative except to stop the bleeding. Fact: The savings rate in this country is now the highest it’s been in years, so it seems that most people get the message that the economy is in a deep recession and they are taking prudent steps to ensure some personal liquidity. But not Big Skinny, Pelosi or the congress – they seem oblivious the country’s current economic woes. Team Democrat has pushed through, by the slimmest of margins, a climate change bill that will devastate businesses and it will be the largest single tax increase in American history. Hugh Hewitt calls it voting for economic suicide.
‘An analysis of the Waxman-Markey bill (as reported out of the House Committee on Energy and Commerce) by The Heritage Foundation found that unemployment will increase by nearly 2 million in 2012, the first year of the program, and reach nearly 2.5 million in 2035, the last year of the analysis. Total GDP loss by 2035 would be $9.4 trillion. The national debt would balloon as the economy slowed, saddling a family of four with $114,915 of additional national debt. Families would also suffer, as the bill would slap the equivalent of a $4,609 tax on a family of four by 2035.[1]‘ – The Heritage Foundation‘This analysis reveals that businesses and consumers would face higher energy and
transportation costs under ACESA, which would lead to increased costs of other goods and services throughout the economy. As the costs of goods and services rise, household disposable income and household consumption would fall. Wages and returns on investment would also fall, resulting in lower productivity growth and reduced employment opportunities.’ – National Black Chamber of Commerce
At a minimum, the timing of this climate wet dream is not something responsible adults would even consider given the country’s high unemployment rate and other economic threats. You just don’t throw gasoline on a burning building. But that is exactly what the Democrats are attempting. This climate change mon$trosity, along with the coming health care upheaval, are simply extraordinarily bad ideas concocted by short-sighted liberals who don’t care how their actions affect families or business. If they did, all they’d have to do is look at California’s over-regulated environmental model and note that businesses, and citizens, are fleeing that fiscal wasteland.
P.S. It seems to me that the Team Democrat sense that the clock is running out on their liberal wish lists and that they had better ‘get’ while the gettin’ is good. There is fainest hint of desperation in their rhetoric lately. The 2010 elections are a make or break for their Utopian dreams.
Update: No surprise, ‘Axelrod refuses to rule out tax hike to pay for ObamaCare’ – Hot Air
‘Global Warming Deniers on the Rise’ – Reason
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(Via The Illustrated Conservative.)